IONZ vs. BMNZ
IONZ (Defiance Daily Target 2X Short IONQ ETF) and BMNZ (Defiance Daily Target 2X Short BMNR ETF) are both Inverse Equities funds from Defiance. A 0.61 correlation means they provide meaningful diversification when combined. IONZ charges 1.29%/yr vs 1.31%/yr for BMNZ.
Performance
IONZ vs. BMNZ - Performance Comparison
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Returns By Period
In the year-to-date period, IONZ achieves a -86.94% return, which is significantly lower than BMNZ's 29.97% return.
IONZ
- 1D
- 11.28%
- 1M
- 22.82%
- YTD
- -86.94%
- 6M
- -84.33%
- 1Y
- -97.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNZ
- 1D
- 9.79%
- 1M
- 76.32%
- YTD
- 29.97%
- 6M
- 50.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONZ vs. BMNZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | -86.94% | -19.61% |
BMNZ Defiance Daily Target 2X Short BMNR ETF | 29.97% | 15.30% |
Correlation
The correlation between IONZ and BMNZ is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025 | 0.61 |
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Return for Risk
IONZ vs. BMNZ — Risk / Return Rank
IONZ
BMNZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IONZ vs. BMNZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short IONQ ETF (IONZ) and Defiance Daily Target 2X Short BMNR ETF (BMNZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IONZ | BMNZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.84 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | — | — |
| Martin ratioReturn relative to average drawdown | -1.28 | — | — |
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Drawdowns
IONZ vs. BMNZ - Drawdown Comparison
The maximum IONZ drawdown since its inception was -98.66%, which is greater than BMNZ's maximum drawdown of -70.80%. Use the drawdown chart below to compare losses from any high point for IONZ and BMNZ.
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Drawdown Indicators
| IONZ | BMNZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.66% | -70.80% | -27.86% |
Max Drawdown (1Y)Largest decline over 1 year | -98.48% | — | — |
Current DrawdownCurrent decline from peak | -97.85% | -27.23% | -70.62% |
Average DrawdownAverage peak-to-trough decline | -74.23% | -50.65% | -23.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 78.39% | — | — |
Volatility
IONZ vs. BMNZ - Volatility Comparison
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Volatility by Period
| IONZ | BMNZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.81% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 152.53% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 187.36% | 187.04% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 187.10% | 187.04% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 187.10% | 187.04% | +0.06% |
IONZ vs. BMNZ - Expense Ratio Comparison
IONZ has a 1.29% expense ratio, which is lower than BMNZ's 1.31% expense ratio.
Dividends
IONZ vs. BMNZ - Dividend Comparison
Neither IONZ nor BMNZ has paid dividends to shareholders.
Frequently Asked Questions
IONZ and BMNZ have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IONZ is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IONZ is cheaper with a 1.29% expense ratio, compared with 1.31% for BMNZ.
IONZ and BMNZ have nearly identical dividend yields, around 0.00%.
Their fees differ too: 1.29% for IONZ and 1.31% for BMNZ.
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